Income Tax Assessment (1997 Act) Regulations 2021
For the purposes of paragraph 292-90(4)(a) of the Act, this section specifies conditions for the allocation of an amount in a complying superannuation plan.
Note:
If the amount meets the conditions of this section it will be an amount covered by subsection 292-90(4) of the Act. Such amounts are counted in determining an individual ' s non-concessional contributions for a financial year.
292-90.01(2)
The conditions are that the amount is: (a) allocated under Division 7.2 of the SIS Regulations; and (b) not an assessable contribution; and (c) not covered by subsection (3).
292-90.01(3)
Each of the following amounts is covered by this subsection: (a) a Government co-contribution made under the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 ; (b) a contribution covered under section 292-95 of the Act; (c) a contribution covered under section 292-100 of the Act, to the extent that it does not exceed the CGT cap amount when it is made; (d) a contribution made to a constitutionally protected fund (other than a contribution included in the contributions segment of the member ' s superannuation interest in the fund); (e) contributions not included in the assessable income of the superannuation provider in relation to the superannuation plan because of a choice made under section 295-180 of the Act; (f) a contribution that is a roll-over superannuation benefit; (g) the tax free component of a directed termination payment (within the meaning of section 82-10F of the Income Tax (Transitional Provisions) Act 1997 ) made in the financial year on behalf of the member.
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